Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Free Report) (TSE:BIP.UN) saw an uptick in trading volume on Friday . 777,630 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 435,902 shares.The stock last traded at $21.53 and had previously closed at $22.50.
Analyst Ratings Changes
A number of brokerages recently commented on BIP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Brookfield Infrastructure Partners in a research note on Friday, September 22nd. TD Securities dropped their price target on Brookfield Infrastructure Partners from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th. BMO Capital Markets dropped their price target on Brookfield Infrastructure Partners from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, September 22nd. Raymond James raised Brookfield Infrastructure Partners from an “outperform” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research note on Monday, September 25th. Finally, Scotiabank dropped their price target on Brookfield Infrastructure Partners from $44.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $40.00.
Check Out Our Latest Stock Report on Brookfield Infrastructure Partners
Brookfield Infrastructure Partners Stock Performance
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.28). Brookfield Infrastructure Partners had a net margin of 2.34% and a return on equity of 1.42%. The company had revenue of $4.26 billion for the quarter. On average, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 2.99 EPS for the current fiscal year.
Brookfield Infrastructure Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.382 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.53 annualized dividend and a dividend yield of 7.14%. Brookfield Infrastructure Partners’s payout ratio is presently 463.64%.
Hedge Funds Weigh In On Brookfield Infrastructure Partners
Several institutional investors and hedge funds have recently modified their holdings of BIP. Fairfield Bush & CO. bought a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at $81,000. JPMorgan Chase & Co. increased its holdings in Brookfield Infrastructure Partners by 58.6% in the 1st quarter. JPMorgan Chase & Co. now owns 6,090 shares of the utilities provider’s stock worth $403,000 after buying an additional 2,250 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Brookfield Infrastructure Partners by 9.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,645 shares of the utilities provider’s stock worth $904,000 after buying an additional 1,230 shares in the last quarter. Blair William & Co. IL increased its holdings in Brookfield Infrastructure Partners by 8.3% in the 1st quarter. Blair William & Co. IL now owns 29,899 shares of the utilities provider’s stock worth $1,980,000 after buying an additional 2,287 shares in the last quarter. Finally, Equitable Holdings Inc. bought a new stake in Brookfield Infrastructure Partners in the 1st quarter worth about $201,000. 55.52% of the stock is currently owned by institutional investors.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.
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